The business, which traded under Tatra Photography and Tatra Yoga, went under on Tuesday (February 11).

Based in Altrincham, Greater Manchester, the operator was licensed to carry 500 passengers through March 31 under Atol 6404.

The CAA has said it will support any holidaymakers affected by the operator’s failure, although none are thought to be overseas.

It has, though, confirmed any future holidays with the company will not go ahead.

Andy Cohen, CAA head of Atol, said: “We understand this will be concerning news for anyone who has booked to travel with the company. However, the ATOL scheme exists for exactly this kind of situation, and we are making immediate arrangements so all Atol-protected customers can claim full refunds as quickly as possible.”

Customers with Atol-protected holidays will be able to claim refunds for their trips and should check the Atol website.

Mountain Paradise specialised in winter sports holidays, walking and trekking trips to the Tatra Mountains separating Slovakia and Poland, photography expeditions and mountain day trips.